Nigeria's Food Security: FG secures $134mlm loan facility from AfDB — Minister
The Federal Government said it has secured a loan facility of 134 million dollars from the African Development Bank (AfDB) to help farmers boost seeds and grain production in the country, News Agency of Nigeria (NAN) reported.
The Minister of Agriculture and Food Security, Senator Abubakar Kyari, made this known at the unveiling of the 2024/2025 National Dry Season Farming in Calabar.
Kyari explained that with the reintroduction of the national dry season farming to boost year-round agricultural production, the loan would be handy as well as guarantee national food security in the country.
He said that the initiative was under the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project.
He noted that the federal government had declared an emergency on food production to enable all Nigerians get easy access to quality and nutritional food at affordable rates.
The minister also said that the government plans on using the agricultural sector for national economic revival through increase in the production of some staple food crops such as wheat, rice, maize, sorghum, soybean, and cassava during both the dry and wet season farming.
He added that no fewer than 107,429 wheat farmers have been supported under phase 1 of the 2023/2024 dry season, and 43,997 rice farmers under the second phase of the 2023/2024 dry season.
He explained that recently, government supported 192,095 rice, maize, sorghum/millet, and soya bean and cassava farmers under the 2024 wet season across the 37 states, including the FCT.
He said that Cross River was leading 16 other states in wheat production, adding that more than 3000 wheat farmers have been listed to benefit from the support to grow the grain.
Kyari said this informed why the Federal Government was partnering with the state to kick-start the maiden wheat production and enlisting them among states commencing the current 2024/2025 dry season farming.
'In the 2024/2025 dry season farming, the project is targeted to support 250,000 wheat farmers across the wheat-producing states with subsidised agricultural inputs.
'250,000 hectares of land will be cultivated with an expected output of about 750,000 metric tonnes of wheat, which is to be added to the food reserve to reduce dependence on the importation of the product, and also increase domestic consumption.
'The programme will also provide support to 150,000 rice farmers under the second phase to cover all the 37 states, including the FCT, with an expected output of about 450,000 metric tonnes,' he said.
On the agriculture mechanisation programme, the minister disclosed that the Economic Council received a briefing and approved the Greener Hope Agric mechanisation consortium, which is a ten-year programme totalling 1 billion dollars in investments.
He said that the consortium was expected to set up 1000 agro centres with service providers across the country.
He also said that the centres were also expected to engage about 600,000 youths, providing 2000 tractors yearly for the next five years.
The minister further said that the government had commenced the sale of 30,000 metric tonnes of milled rice to Nigerians at subsidised rates of N40,000 per 50-kilogramme bag, adding that the exercise would be carried out across the country.
'It is expected that with the injection of 30,000 metric tonnes (1000 trucks of 30MT each of this important staple food into Nigeria's food balance sheet, it will not only crash the price of rice but also other close food substitutes and alternatives,' he said.
Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
6 hours ago
- Zawya
Liberia Wins Bid to Host the Economic Community of West African States (ECOWAS) Youth & Sports Development Centre
The Republic of Liberia is proud to announce through the Ministry of Foreign Affairs, that it has officially won the bid to host the ECOWAS Youth&Sports Development Centre (EYSDC), a key regional institution under the Economic Community of West African States (ECOWAS). The decision was made following a competitive selection process initiated by the ECOWAS Commission in light of recent institutional relocations triggered by the withdrawal of some Member States from the regional bloc. The Ministry of Foreign Affairs, which led Liberia's bid to host one of the vacated ECOWAS institutions, welcomed the news with deep appreciation and a renewed sense of national pride. Liberia's Minister of Foreign Affairs, H.E. Sara Beysolow Nyanti, extended heartfelt gratitude to ECOWAS member states. 'This is a historic moment for Liberia. We are honored to be entrusted with hosting the EYSDC and reaffirm our commitment to regional integration and youth empowerment,' said Foreign Minister Nyanti. The Foreign Minister acknowledged the pivotal role of President Joseph Nyuma Boakai, Sr., the chief architect of Liberia's foreign policy, whose unwavering support was instrumental in the successful bid. She thanked His Excellency for his direct engagement with the vetting team that visited Liberia to assess Liberia's readiness. She also recognized Deputy Minister for International Cooperation and Economic Integration, Dr. Ibrahim Nyei and his team for their strategic leadership throughout the process. Special thanks were also extended to Cllr. Cole Bangalu, Minister of Youth and Sports, for ensuring that the technical aspects of Liberia's proposal reflected the country's readiness to host such a vital institution. She also commended Mr. Morley Kamara, Economic Advisor to the President, for his support to the bid process, aligning it with Liberia's broader economic diplomacy agenda. The General Services Agency (GSA) was recognized for its effective coordination and oversight of the logistics and infrastructural details included in Liberia's application. The Minister further expressed appreciation to Senator Edwin Snowe, for his advocacy for Liberia to seek the hosting of a regional institution. As background, Liberia had expressed interest in hosting three of four ECOWAS institutions namely, West Africa Health Organization (WAHO); ECOWAS Youth&Sports Development Centre (EYSDC) and Water Resources Coordination Centre (WRCC) previously located in Member States that have exited the regional bloc. Of the 12 countries eligible to bid, Côte d'Ivoire was selected to host WAHO, Guinea will host the WRCC, and Guinea-Bissau the RAHC. Liberia's selection as host of the EYSDC marks a significant achievement in its regional engagement and diplomacy. The successful bid not only enhances Liberia's standing in the ECOWAS community but also promises long-term benefits in the areas of youth engagement, education, sports diplomacy, job creation, and regional visibility. The Government of Liberia reaffirms its readiness to ensure a smooth and timely transition of the Centre's operations and infrastructure to Monrovia and calls upon development partners and stakeholders to support the next phase of implementation. The Ministry of Foreign Affairs will continue to identify and optimize every opportunity for repositioning and rebranding Liberia. Distributed by APO Group on behalf of Ministry of Foreign Affairs of Liberia.
Zawya
9 hours ago
- Zawya
Petralon Energy Set to Shape Conversations on Nigeria's Oil Future at African Energy Week (AEW) 2025
African Energy Week (AEW) 2025: Invest in African Energies is honored to welcome Ahonsi Unuigbe, Founder and CEO of Petralon Energy, as a distinguished speaker at this year's edition in Cape Town. A driving force behind one of Nigeria's leading indigenous upstream oil and gas companies, Unuigbe will offer valuable perspectives on the role of independent operators in Africa's energy future, as well as the opportunities arising from sector reforms, new fiscal incentives and major IOC divestments. Since its founding, Petralon Energy has positioned itself at the forefront of Nigeria's upstream sector, with a mission to create value through indigenous ownership and technical excellence. In 2025, the company continues to make significant strides at the Dawes Island Field, where drilling and completion of a new well added 2,500 barrels of oil per day to Nigeria's daily production, directly supporting national energy security and economic growth. Petralon is also pursuing strategic offshore investments through its non-operated interests in OML 127 and OML 130, part of a broader plan to strengthen its asset portfolio amid the shifting dynamics of Nigeria's upstream sector. Beyond its operational achievements, Petralon Energy is focused on long-term capacity building. The company launched its Future Leaders Program in 2024, aimed at equipping young Nigerian engineers with the technical, leadership and problem-solving skills necessary to drive the sector forward. Petralon's strategic partnership and joint investment agreement with engineering firm Julius Berger Nigeria, announced earlier this year, further reflects its commitment to delivering infrastructure solutions that support sustainable field development and enhance project delivery. At AEW 2025, Unuigbe will join key discussions on how African independents can leverage new fiscal frameworks, attract investment and form partnerships that maximize the potential of both mature and frontier assets. His participation will contribute to high-level dialogue around indigenous firms' expanding role in shaping the continent's energy landscape. 'Companies like Petralon Energy represent the future of Nigeria's oil and gas sector — a future where African companies take the lead in driving production, creating jobs and delivering energy security. We are proud to welcome them at AEW 2025, where we will celebrate and support the success of local firms like Petralon that are building Africa's energy industry from the ground up,' states NJ Ayuk, Executive Chairman of the African Energy Chamber. Petralon Energy's participation in AEW 2025 embodies the conference's core theme of African solutions for African energy challenges, and reflects the growing leadership of indigenous companies in delivering the continent's energy future. Distributed by APO Group on behalf of African Energy Chamber. About African Energy Week (AEW): AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event.
Zawya
10 hours ago
- Zawya
African and Caribbean leaders to headline Afreximbank's 32nd Annual Meetings in Abuja, Nigeria
The 32nd Annual Meetings (AAM2025) of African Export-Import Bank (Afreximbank) ( will bring together an influential coalition of global, African and CARICOM leaders in Abuja, Nigeria from 25–27 June 2025. This high-level forum will focus on advancing trade, investment, and innovation across the continent, with Heads of State, Prime Ministers, top business executives, academics and acclaimed academics confirmed to speak. H.E. Bola Ahmed Tinubu, President of the Federal Republic of Nigeria; former Nigerian President H.E. Chief Olusegun Obasanjo and H.E. Ambassador Albert Muchanga, African Union Commissioner for Economic Development, Tourism, Trade, Industry&Mining, are among the confirmed dignitaries. They will be joined by ministers, central bank governors, investors, and industry leaders from Africa, the Caribbean, and beyond. Held under the theme 'Building the Future on Decades of Resilience', AAM2025 will focus on accelerating trade opportunities, driving investment and fostering innovation. Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, remarked: 'AAM2025 comes at a pivotal time for Africa. As the continent confronts global uncertainties, it is doing so with renewed resolve. Following the successful 31st edition of AAM held in The Bahamas last year, we are back on the African continent for this year's meetings which are about catalysing practical action—building stronger institutions to strengthen trade integration and unlocking the full potential of African innovation. We thank H.E Bola Ahmed Tinubu, President of the Federal Republic of Nigeria for his support.' The speaker lineup includes renowned economists and industry leaders including Professor Jeffrey Sachs, Director, Centre for Sustainable Development, Columbia University and Dr. Kishore Mahbubani, Distinguished Fellow, Asia Research Institute, National University of Singapore. Africa's foremost business innovation leaders such as Mr. Aliko Dangote, President&CEO of Dangote Group and Mr. Tony Elumelu, Chairman of Heirs Holdings, will also participate. The speaker lineup further includes Professor Ghulam Mufti of King's College London, former Prime Minister of Jamaica P.J. Patterson, and other influential figures. Afreximbank's 32nd Annual Meetings (AAM2025) in Abuja are expected to deliver strong economic benefits, both in the short and long term. The main anticipated impacts include the trade and investment mobilisation, policy and institutional advancement and strengthening South-South cooperation and trade flows. AAM2025 is expected to facilitate significant trade and investment deals, including Memoranda of Understanding (MoUs) and public-private partnerships. The meetings are expected to catalyse billions of dollars in funding over the next 5–10 years for key strategic sectors. By bringing together heads of state, ministers, leaders of trade institutions, policymakers and the private sector, the meetings will advance regional dialogue on several priorities: implementing the African Continental Free Trade Area (AfCFTA), enhancing cross-border payment systems to speed up regional transactions, strengthening Africa–Caribbean (CARICOM) economic ties through expanded trade, tourism, and joint ventures, and ensuring private sector participation in policy reforms. These discussions aim to reduce business costs, improve trade infrastructure, and deepen regional economic integration. With world-renowned economists, scholars, and entrepreneurs participating, AAM2025 will shape thought leadership on Africa's development path. Platforms like this influence policy, shift narratives, and inspire reforms that foster innovation, inclusion, and competitiveness. This year's meetings will also mark the launch of several new initiatives. AAM2025 is expected to welcome thousands of participants and media from more than 80 countries. A full programme of events and speakers is available on Distributed by APO Group on behalf of Afreximbank. Follow us on: Twitter Facebook LinkedIn Instagram About Afreximbank: African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank's total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.
